Building And Construction In Asia Pacific > South Korea > South Korea
The COVID-19 hit to South Korea’s construction sector is less severe than that in most other Asian countries. The total value of commencements is expected to contract 9.1% y/y in 2020, an improvement from an earlier forecast of -11.3%. Residential and non-residential commencements are expected to contract 8.9% and 3.2% respectively. Civil engineering commencements however is now expected to contract more steeply by 15.1% (from -13%) as new major infrastructure projects are slow to commence.
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